Written by Tony Webbstock.
- What is Prescription of Debt? Debt prescribes by statutory law when:
a: you haven’t made a payment on your account for an uninterrupted period of 3 years, and
b: no summons has been served on you during this period!
2. This means that your debt has is written off by the mere operation of the law & the passage of time and cannot be revived by payment thereafter without a new agreement being entered into expressly doing so!
3. What can you do if your debt has prescribed? Stop paying and plead prescription of your debt when you are sued!
4. It is as easy as that! You have to stop paying your prescribed debt to pay it! Or said another way you have to stop paying for prescription to start running!
5. For more info, click here: (insert your link here)